The credit derivatives industry and its professionals have seldom been without a keen sense of their own importance, and they may have been guilty of a little hyperbole when it was decided to name the changes introduced on April 8 to the mechanism of trading CDS as the "Big Bang".
There have been other big bangs of course. Most notably, the phrase normally refers to the process some 13.7 billion years ago by which our universe was born. It is also a successful US sitcom, and, apparently, the name
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Quantile, TriOptima face off in cleared swaps compression battle
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quants stymied by lack of alternative risk premia flows data